cientax Posted April 6, 2009 Report Share Posted April 6, 2009 Have the tax rates on taxable income changed? I prepared a return on two different computers at different dates with taxable lincome being the same however there is a $60 dollar differnece in the tax. The taxable income is $2798. On one return the tax is $279 and on the other return the tax is $219. Can someone confirm which amount is correct please. I can't find anything on any changes. thanks. Link to comment Share on other sites More sharing options...
TAXBILLY Posted April 6, 2009 Report Share Posted April 6, 2009 And the filing status is? taxbilly Link to comment Share on other sites More sharing options...
jklcpa Posted April 6, 2009 Report Share Posted April 6, 2009 are both returns identical? maybe you missed something on one of the returns - like qualified divs that are taxed at a lower rate, even though the taxable income on both returns is the same? Link to comment Share on other sites More sharing options...
RitaB Posted April 6, 2009 Report Share Posted April 6, 2009 are both returns identical? maybe you missed something on one of the returns - like qualified divs that are taxed at a lower rate, even though the taxable income on both returns is the same? Or, it's 2006, and that $%^& phone credit is not checked on one... Just kidding. Was that 2006? Time flies whether you're having fun or not... Link to comment Share on other sites More sharing options...
kcjenkins Posted April 7, 2009 Report Share Posted April 7, 2009 Or did one have real estate tax added to Std Deduction and the other did not? Link to comment Share on other sites More sharing options...
Don in Upstate NY Posted April 7, 2009 Report Share Posted April 7, 2009 Have the tax rates on taxable income changed? I prepared a return on two different computers at different dates with taxable income being the same however there is a $60 dollar difference in the tax. The taxable income is $2798. On one return the tax is $279 and on the other return the tax is $219. Can someone confirm which amount is correct please. I can't find anything on any changes. thanks. If the taxable income of $2798 were all ordinary income not subject to any special rates, then the tax would be $279 (10%). This is for any filing status, standard or itemized deductions, any number of exemptions, etc. Does the return with the $219 tax include $600 of qualified dividends or long-term capital gains? Link to comment Share on other sites More sharing options...
RitaB Posted April 7, 2009 Report Share Posted April 7, 2009 If the taxable income of $2798 were all ordinary income not subject to any special rates, then the tax would be $279 (10%). This is for any filing status, standard or itemized deductions, any number of exemptions, etc. Does the return with the $219 tax include $600 of qualified dividends or long-term capital gains? I think both returns are for the same taxpayer(s) just came out not agreeing with each other, which really is weird, and I got nothing besides what others have said. cientax - let us know what happened, this is killing me. Link to comment Share on other sites More sharing options...
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